Greenhouse Films Market Has Been Estimated to Grow at 8.25% CAGR During 2018 to 2023
Greenhouse Films Market Overview
The worldwide greenhouse films market is likely to attain an estimated valuation of USD 6,408.2 million by 2023 surging from USD 3,956.2 million in 2017. The expected CAGR would be 8.25% from 2018 to 2023. Greenhouse films find wide applications in covering the plants being grown in a greenhouse. The amount of light entering the greenhouse is amplified with greenhouse films to reduce the entry of harmful environmental elements that could obstruct plant growth. Greenhouse films control the amount of sunlight along with the temperature within the greenhouse.
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Additionally, the films aid in protecting the plant from adverse environmental conditions. Greenhouses enhance the crop quality to a large extent than conventional agriculture. It is an effective way to increase control over their growth, allow off-season farming attributing to the usage of artificial lights, and minimize pest activity.
Rising demand for greenhouse market is owing to the inability of agriculture industry to meet the demand of the growing global population. Surging demand for nutritious and organic food has substantially encouraged indoor farming activities which in turn has affected the greenhouse films market positively. Besides, increasing government expenditure on agricultural schemes to produce food through innovative means drives the demand for the greenhouse films market significantly. Greenhouse agriculture is also extremely popular in terms of water conservation. It provides a remarkable advantage in this regard over conventional farming. This is likely to be a key driver for the worldwide greenhouse films market over the forecast period.
Technological progressions and innovations in greenhouse films are also anticipated to be major drivers for the worldwide market. Pressure-stabilized and UV-protective greenhouse films offer improved protection for the plants being grown in the greenhouse. The wide popularity of these technologically advanced films is expected to influence the global greenhouse market positively.
Market Segmentation:
The global greenhouse films market has been segmented based on material, resin type, application, and thickness.
Based on material, the market has been segmented into LLDPE and LDPE. LLDPE and LDPE are the key drivers to the global greenhouse films market. LDPE material is likely to achieve a CAGR of 8.43% over the forecast period.
Based on resin type, the market has been segmented into LLDPE, LDPE, PVC, HDPE, EVA, EBA, and PC.
Based on application, the market has been segmented into fruits, vegetables, ornamentals, flowers, and others. Vegetables are expected to drive the global greenhouse films market to a great extent.
Based on thickness, the global greenhouse films market has been segmented into <200 microns, 200 microns, and >200 microns. The <200 microns and 200 microns segments are likely to substantially dominate the global greenhouse films market.
Regional Analysis:
Geographically, the global greenhouse films market has been segmented into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa.
Asia Pacific is likely to be the major regional market for greenhouse films owing to the growing demand for greenhouse films in countries such as Thailand, India, and China. China is world’s largest vegetable producer and is expected to adopt greenhouse farming on a growing scale. Additionally, the growing demand for “ayurvedic” herbs and plants in India is likely to boost demand for the greenhouse films industry in the APAC market. It is expected to exhibit CAGR 8.74% over the forecast period.
Key Players:
Global greenhouse films market has been dominated by key players such as Vis and Son Company Limited (Thailand), Ginegar Plastic Products Ltd. (Israel), Essen Multipack (India), RPC Group plc (U.K.), Beijing Kingpeng International Hi-Tech Corporation (China), Agriplast Tech India Pvt. Ltd. (India), Thai Charoen Thong Karntor Co. Ltd. (Thailand), Central Worldwide Co. Ltd. (Thailand), Lumite Inc. (U.S.), Agriplast (Italy), and Tuflex India.
Market Dynamics:
4.1 Introduction 29
4.2 Drivers 30
4.2.1 Increasing Demand For Greenhouse Cultivated Crops Globally 30
4.2.2 Low Cost Per Square Meter 30
4.2.3 Demand For Greenhouse Cultivation In Asia-Pacific 30
4.2.4 Drivers Impact Analysis 31
4.3 Restraints 31
4.3.1 Low Awareness Of Greenhouse Films 31
4.3.2 Susceptible To Rips, Tears, And Puncture 31
4.3.3 Restraints Impact Analysis 32
4.4 Opportunities 32
4.4.1 Shift Towards Greenhouse Cultivation 32
4.4.2 Advancement In Technology 33
4.5 Trends 33
4.5.1 Growing Emphasis On 200 Micron UV Stabilized Poly Film 33
Market Factor Analysis:
5.1 Supply Chain Analysis 35
5.1.1 Raw Material Suppliers 35
5.1.2 Greenhouse Films Manufacturers 35
5.1.3 Distribution Channel 35
5.1.4 End-Use Industry 36
5.2 Porter’s Five Forces Model 36
5.2.1 Threat Of New Entrants 36
5.2.2 Threat Of Rivalry 36
5.2.3 Threat Of Substitutes 37
5.2.4 Bargaining Power Of Supplier 37
5.2.5 Bargaining Power Of Buyer 37
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